Trustees Of Union College
- Assets
- $1.0b
- Revenue
- $197.8m
- Investments
- $485.4m
- Employees
- 2,404
- Location
- Schenectady, NY
- Founding
- 09/1937
- Data as of
- 06/2021
- EIN
- 14-1338580
Organization Overview
Trustees Of Union College is located in Schenectady, NY. The organization was established in 1937. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Trustees Of Union College employed 2,404 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of Union College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Trustees Of Union College generated $197.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $186.1m during the year ending 06/2021. While expenses have increased by 1.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNION COLLEGE DEVELOPS EVERY STUDENT TO LEAD WITH WISDOM, EMPATHY, AND COURAGE.
Describe the Organization's Program Activity:
THE UNION COLLEGE CURRICULUM EMPHASIZES COLLABORATION WITH STUDENTS AND FACULTY THROUGH SMALL CLASSES AND UNDERGRADUATE RESEARCH, INTERNATIONAL STUDY AND LEARNING THROUGH SERVICE. THROUGH ITS UNIQUE INTERDISCIPLINARY APPROACH TO THE LIBERAL ARTS, UNION COMBINES THE HUMANITIES AND SOCIAL SCIENCES WITH SCIENCE AND ENGINEERING, EMPHASIZING THE PRACTICAL APPLICATION OF IDEAS THROUGH HANDS-ON EXPERIENCE. WITH MORE THAN 40 MAJORS AND 55 MINORS TO CHOOSE FROM, UNION STUDENTS CAN PURSUE DOUBLE MAJORS; COMBINE MAJORS AND MINORS; SELECT INTERDEPARTMENTAL AND MULTIDISCIPLINARY CONCENTRATIONS, AND AREA, ETHNIC AND CULTURAL STUDIES PROGRAMS; OR DESIGN THEIR OWN MAJOR. MOST STUDENTS TAKE THREE COURSES IN EACH OF THE THREE 10-WEEK TERMS THAT COMPRISE UNION'S ACADEMIC CALENDAR SYSTEM. (SEE SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David R Harris President/trustee Ex Officio | OfficerTrustee | 40 | $670,396 |
Michele M Gibson VP For Admin & Fin (thru 06/30/21) | Officer | 40 | $281,363 |
Strom Thacker VP Academic Affairs/dean Faculty | Officer | 40 | $245,037 |
Eric Bennett Head Men's Ice Hockey Coach | 40 | $228,006 | |
Matthew Malatesta VP For Admissions, Fa & Enrollment | Officer | 40 | $215,147 |
Fran'cee Brown-Mcclure VP Stud Aff & Dean Students | Officer | 40 | $199,972 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crsp Llc Covid Testing | 6/29/21 | $2,310,000 |
Turner Construction Company Construction | 6/29/21 | $5,802,043 |
Bain & Company Strategic Consulting | 6/29/21 | $1,674,000 |
Jackson Demolition Services Inc Construction | 6/29/21 | $946,937 |
Mlb Const Services Llc Construction | 6/29/21 | $553,376 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,081,201 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,379,252 |
| Noncash contributions included in lines 1a–1f | $4,910,363 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,460,453 |
| Total Program Service Revenue | $139,827,151 |
| Investment income | $3,657,831 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $118,307 |
| Net Gain/Loss on Asset Sales | $25,459,396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $799,113 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $197,804,663 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $54,288,128 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,920,764 |
| Compensation of current officers, directors, key employees. | $1,273,618 |
| Compensation to disqualified persons | $759,718 |
| Other salaries and wages | $54,930,605 |
| Pension plan accruals and contributions | $5,439,303 |
| Other employee benefits | $12,175,663 |
| Payroll taxes | $3,404,824 |
| Fees for services: Management | $1,121,331 |
| Fees for services: Legal | $355,438 |
| Fees for services: Accounting | $265,252 |
| Fees for services: Lobbying | $932 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $538,150 |
| Fees for services: Other | $5,149,767 |
| Advertising and promotion | $265,518 |
| Office expenses | $6,437,011 |
| Information technology | $3,973,427 |
| Royalties | $0 |
| Occupancy | $6,062,736 |
| Travel | $1,175,985 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $930,544 |
| Interest | $5,517,467 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,376,924 |
| Insurance | $1,285,784 |
| All other expenses | $3,583,449 |
| Total functional expenses | $186,064,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,275 |
| Savings and temporary cash investments | $50,359,960 |
| Pledges and grants receivable | $62,890,238 |
| Accounts receivable, net | $2,862,344 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,510,765 |
| Inventories for sale or use | $1,063,012 |
| Prepaid expenses and deferred charges | $1,925,839 |
| Net Land, buildings, and equipment | $271,038,875 |
| Investments—publicly traded securities | $118,958,965 |
| Investments—other securities | $485,416,880 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,811,671 |
| Total assets | $1,010,860,824 |
| Accounts payable and accrued expenses | $25,459,806 |
| Grants payable | $0 |
| Deferred revenue | $3,777,130 |
| Tax-exempt bond liabilities | $86,670,616 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $73,045,532 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,255,083 |
| Total liabilities | $204,208,167 |
| Net assets without donor restrictions | $320,040,710 |
| Net assets with donor restrictions | $486,611,947 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,010,860,824 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Trustees Of Union College has recieved totaling $10,500.
| Awarding Organization | Amount |
|---|---|
Olesky Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $4,000 |
Newcity Foundation Wilmington, DE PURPOSE: UNION COLLEGE ANNUAL FUND | $3,000 |
Newcity Foundation Wilmington, DE PURPOSE: JAMES UNDERWOOD SCHOLARSHIP FUND | $3,000 |
The Compass Fund 4737682 Kingston, NH PURPOSE: GENERAL SUPPORT | $500 |
Endowment Analysis
| Beg. Balance | $478,019,726 |
| Earnings | $128,897,291 |
| Net Contributions | $16,761,010 |
| Other Expense | $16,903,783 |
| Grants | $8,027,952 |
| Ending Balance | $598,746,292 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |